 Exploring the impact of religious culture on financial constraints: The moderating role of environmental responsibility, innovation, and law enforcement on SMEsLuxi Li, Zhicheng Chen and Jialu You Finance Research Letters, 2024, vol. 69, issue PB Abstract: This study explores the role of religious culture in alleviating financial constraints for SMEs, emphasizing the moderating effects of environmental responsibility, innovation, and law enforcement. By analyzing data from 2,833 SMEs across diverse geographic regions with varying religious influences from 2011 to 2020, we discovered that firms in areas with strong religious cultural networks experience fewer financial constraints. The moderating mechanisms of enhanced environmental responsibility and innovation contribute to a more favorable economic policy environment. These findings suggest that financial products tailored to respect religious cultural dimensions can more effectively address the financing challenges faced by SMEs. Therefore, policymakers and financial institutions should consider cultural factors when designing economic support mechanisms. Keywords: Financial constraints; Small and medium enterprises (SMEs); Environmental responsibility; Religious culture; Law enforcement (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:69:y:2024:i:pb:s1544612324010808 DOI: 10.1016/j.frl.2024.106050 Access Statistics for this article Finance Research Letters is currently edited by R. Gençay More articles in Finance Research Letters from Elsevier |
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